<p>Delhaize has recently reached an agreement for the sale of its Sweetbay, Harveys and Reid's with Bi-Lo Holdings, LLC on the divestiture of the banners. Sweetbay currently has 72 stores, Harveys has 72 locations and Reid’s rounds out with 11 stores. The transaction is expected to close in the fourth quarter of 2013.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>The signed agreement with Bi-Lo Holdings will bring in and estimated $265 million in cash. As part of the transaction, Bi-Lo Holdings will also acquire leases for 10 prior Sweetbay locations, according to a press release. Delhaize will retain Sweetbay’s distribution center.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>“We would like to thank the associates of Sweetbay, Harveys, and Reid´s for their ongoing commitment and accomplishments throughout the years.” said Delhaize Group CEO Pierre-Olivier Beckers. “We believe this transaction represents a significant move towards simplifying our business and will allow for even greater focus at Delhaize America. The transaction will further increase the financial flexibility required to execute our strategic priorities.”</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Lazard acted as financial advisor to Delhaize for this transaction.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.delhaizegroup.com/en/Home.aspx" target="_new"> Delhaize </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
